Prime Minister Phạm Minh Chính. — VNA/VNS Photo Dương Giang
Prime Minister Phạm Minh Chính has signed a directive which puts special focus on the gold market.
Under Directive No 03/CT-TTg on February 4, the Prime Minister highlighted key tasks for implementation after the 2025 Lunar New Year holiday, including a special emphasis on stabilising the domestic gold market.
PM Chính instructed the State Bank of Vietnam (SBV) to take the lead in coordinating efforts to monitor and stabilise the gold market. This includes conducting research and proposing amendments to Decree No 24/2012/ND-CP regulating the management of gold trading activities by the second quarter of 2025.
In addition, the PM urged the SBV to guide credit institutions to focus on directing credit to productive sectors such as consumption, exports, investment and emerging sectors like the digital economy, green economy and circular economy. The goal is to support traditional growth drivers while encouraging the development of new economic models.
The directive also emphasises the need for credit institutions to strictly control credit in high-risk sectors and continue efforts to lower lending interest rates.
Chính also called for the completion of a restructuring plan for credit institutions dealing with bad debts in the 2021–2025 period, with a particular focus on addressing the weaknesses of some institutions, including submitting a restructuring plan for Saigon Commercial Joint Stock Bank (SCB) urgently.
This directive underlines the government's approach to maintaining economic stability, managing risks in the banking and gold markets and ensuring the sustainable development of key sectors in the economy.
